DIS AG
DIS AG: Strong growth in sales and earnings in the first quarter 2004
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Strong growth in sales and earnings in the first quarter 2004
Dusseldorf, May 04, 2004 – The personnel services specialist DIS Deutscher
Industrie Service AG showed strong growth in the first quarter.
After nine consecutive quarters of year-on-year sales decline, DIS AG’s sales
increased strongly in the first quarter of 2004 by 14.0 percent to EUR 61.5
million. Organic sales growth was 5.3 percent in the first quarter of 2004,
compared with – 0.4 percent in the fourth quarter of 2003. The budget figure for
the first quarter of 2004 was therefore exceeded by more than 5 percent. This
can be attributed particularly to extremely dynamic development in the early-
cyclical Industry division and a significantly better than expected start to
2004 for the Finance division.
The gross margin developed considerably better than planned in the reporting
quarter. While planning assumed a slight decrease in the gross margin due to the
increase in the cost of temporary employment associated with the introduction
of the collective wage agreement, this increased by 40 basis points to 36.2
percent, an extremely pleasing result.
In view of the strong sales growth, the increase in the gross margin, a sound
cost structure and the lack of goodwill amortisation, the pre-tax margin was
increased onsiderably from 6.1 percent to 9.1 percent in the reporting quarter,
which corresponds to an earnings increase of 69.5 percent to EUR 5.6 million.
Despite the considerably improved development of earnings, at present DIS AG
does not intend to increase its budgeted figures for the 2004 financial year,
since this is considered to be premature at this point in time, given the low
visibility of temporary employment and the economic uncertainties.
Nevertheless, the management views the coming quarters with optimism and
continues to assume sales growth of 15.0 percent to EUR 250.0 million and an
improvement of 25 percent to EUR 19.3 million in earnings before tax. Earnings
per share are expected to increase by 37 percent to at least EUR 0.90 in the
2004 financial year.
The full report is available under http://www.dis.ag
Contact: Dominik de Daniel, CFO, Niederkasseler Lohweg 18, D-40547 Dusseldorf,
tel.: ++49 211 530653-16, fax: ++49 211 530653-740, e-mail: ir@dis-ag.de
end of ad-hoc-announcement (c)DGAP 04.05.2004
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WKN: 501690; ISIN: DE0005016901; Index: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, München und Stuttgart
040805 Mai 04
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